Duke Energy Unit Overcharged For Power Sales, FERC Says

Law360, New York (October 2, 2012, 4:05 PM EDT) -- Duke Energy Corp. subsidiary Progress Energy Florida Inc. allegedly sold electricity to in-state buyers over rate limits placed on the utility in violation of both the Federal Power Act and a Federal Energy Regulatory Commission order, the regulator said Monday.

In 1997, FERC authorized PEF to sell electricity and electrical capacity at market-based rates to unaffiliated entities outside of peninsular Florida. However, a preliminary FERC investigation found that from 2004 to 2009, PEF sold to entities within peninsular Florida at market-based rates, according to a violation...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.